Proplend is a financial technology platform that enables individual and institutional investors to earn by returns lending money directly to commercial property investors. The company specialises in sub-£5m commercial property loans.
Proplend’s Flexible ISA allows you to invest your annual tax-free ISA allowance of £20,000 into P2P loans. Unlike traditional ISAs, Proplend’s Innovative Finance ISA allows temporary withdrawals, and since it is flexible you can replace any ISA withdrawals; any funds not returned by end of the tax year are treated as permanent withdrawals.
There are no extra fees and flexibility applies to both current and previous year ISA funds. You can manually choose which loans to invest in or enable the hassle-free Auto-Lend facility to have available ISA cash automatically allocated. The ISA gives access to a large range of investment funds. You can typically earn 5-12% AER tax-free interest.
Proplend specialises in sub-£5m commercial investment property loans. As well as IFISAs, it also offers SIPPs and SSASs.
Proplend Reviews and Ratings
Online reviews for Proplend are excellent. Customers agree that it is a very well run company with some realistic investment proposals that offer great returns. The platform is straightforward, simple and self-managing. However, some comments allude that the platform can be quite high maintenance; you need to log in at precisely the right time when the deal goes live in order to get in on the junior tranches.
- Innovative Finance ISA is flexible to allow temporary withdrawals
- Fast easy online signup
- No extra fees or limits: the charge is the same 10% lender fee on interest credited
- Access to a large range of funds
- Earn 5-12% AER tax-free
- Manually choose which loans to invest in or enable the hassle-free Auto-Lend facility
- Excellent customer feedback
- Innovative Finance ISA only
- Other ISA products not offered
- 10% lender fee
- A lack of online help tools or downloadable content
- Platform can be quite high maintenance; you need to log in at precisely the right time when the deal goes live in order to get in on the junior tranches
- Not covered by the FSCS